As the meme goes… ‘that escalated quickly.’
While my $100 dollar Ethereum prediction in September:
was looking good late last week at $129:
Ethereum is now $106.
This is close enough to declare self-affirmation and go home but this crash is not over yet.
As I write Bitcoin has hit $3600 roughly, nigh on 20% lower (18.9%) than when I wrote last week’s doom laden article.
I have picked up a little BTC but only to back my opinion that my timing and opinion can be as off as the next mans.
Im still waiting for $2500 to get serious.
But I’m not the sort of doomster that doesn’t make money when the tide turns, in fact I’m not a doomster at all. Anyone who has read my pieces of Forbes over the last 15-20 years will note many rampant bull market calls predicting ridiculous levels to the Dow etc which came to pass.
The key to making money in the market is to know which way the market is going, little more is required. If the market is going up its hard to lose money as an investor and if the market is going down, its hard to make it. I’ve been fortunate enough to be pretty good at that over the years at the all important call and I hope, if there are any fans out there, that they have made much money from this rune casting.
We are in a bear market for Bitcoin and Equities and they are going to keep falling. The equity market has just started and the Crypto market is approaching the final leg(s) of its crash.
You don’t have to know any more than that to make a bundle of money but people always want more.
So where are we with Crypto?
Here are two charts I encourage you to think on:
Ethereum now and Amazon back in the Dotcom crash.
Amazon is a good road map for Ethereum and there by the general road ahead for Crytpo.
You can surmise or at least imagine by comparing the two financial assets born of revolutionary technological developments and new thinking, that:
The Crypto crash is nearly done but
In percentage terms from here, the fall could still be big.
The long term upside can be immense
Ethereum could possibly halve
This Crypto-crash is following an established path worth considering in your calculations
Now for those who want to finesse their re-entry this is the plan.
You should do the same for the coming Dotcom 2 crash. Its coming and its going to hit a $25tr market, not some midget $500 billion one.
Don’t believe me?
This is just how bubbles look. Below is Bitcoin just bursting.
Up like a rocket,
and down like at rock.
The 10 year bull had to die some time and this is IT. In fact it has been on its last legs since the Federal Reserve started and began ramping its reverse-QE last November. While the Dow might be some central banking empathy the overblown Nasdaq will not.
But that’s OK, the market will always crash from time to time, the secret is to be out near the top and back in near the bottom.
That is the game we are now playing.
So let’s coin a new market meme, BTFC, ‘Buy the flipping Crash’
Opportunities are coming.